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Blockchain is a Distributed Ledger with Super Powers

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Blockchain is a type of distributed ledger that can record transactions in a public or private peer-to-peer network. But that’s not the innovative part. It takes things to the next level by how it works. With blockchain:

  • Transactions are usually distributed across all members in the network. They’re called nodes.
  • Instead of one version, it tracks transactions in a chain of encrypted records called blocks.
  • All blocks are validated by the network. Then they are linked from the beginning to the most current—hence the name blockchain.

The blockchain acts as a single source of truth, as altering any existing transaction will break the chain.